Asya Craven donated cash of $10,000,000 to the Second Harvest Food Bank of Middle Tennessee, a nonprofit organization. The donation was an endowment gift, where the principal was meant to be invested and retained into perpetuity, with the Food Bank having permission to use the earnings for any purpose. What section(s) of the Food Bank's statement of cash flows (prepared using the indirect method) would this amount be reported? Be sure to indicate section, sign, and amount.
Asya Craven donated cash of $10,000,000 to the Second Harvest Food Bank of Middle Tennessee, a nonprofit organization. The donation was an endowment gift, where the principal was meant to be invested and retained into perpetuity, with the Food Bank having permission to use the earnings for any purpose. What section(s) of the Food Bank's statement of cash flows (prepared using the indirect method) would this amount be reported? Be sure to indicate section, sign, and amount.
Chapter28: Income Taxation Of Trusts And Estates
Section: Chapter Questions
Problem 9DQ
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![Asya Craven donated cash of $10,000,000 to the Second Harvest Food Bank of
Middle Tennessee, a nonprofit organization. The donation was an endowment gift,
where the principal was meant to be invested and retained into perpetuity, with the
Food Bank having permission to use the earnings for any purpose. What section(s) of
the Food Bank's statement of cash flows (prepared using the indirect method) would
this amount be reported? Be sure to indicate section, sign, and amount.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff544e2bc-c851-4b9d-bcd6-8a917aecc225%2F43238d8e-438f-4e9f-85b3-96d49ace616d%2Fvcqxoxs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Asya Craven donated cash of $10,000,000 to the Second Harvest Food Bank of
Middle Tennessee, a nonprofit organization. The donation was an endowment gift,
where the principal was meant to be invested and retained into perpetuity, with the
Food Bank having permission to use the earnings for any purpose. What section(s) of
the Food Bank's statement of cash flows (prepared using the indirect method) would
this amount be reported? Be sure to indicate section, sign, and amount.
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